British national arrested for over ¥13 million cash swap swindle

Tokyo police confirmed Friday that they have arrested a 40-year-old British man on suspicion of stealing ¥13 million ($83,400) from a company executive by swapping out cash during a fake gold transaction.
The suspect, Joe Kpoto, whose address and occupation are currently unknown, has denied the allegations.
According to police, five similar incidents occurred across Tokyo between August 2023 and June 2024, resulting in total damages of approximately ¥146 million. Authorities are investigating potential links between these cases.
Kpoto is accused of carrying out the scheme on Oct. 25, 2023, at around 1 p.m. at a restaurant in Tokyo’s Chiyoda Ward. He allegedly posed as a business consultant during a meeting with the 62-year-old company executive, who had been approached by a Japanese broker for the purchase of about 1 kilogram of gold grains.
The victim was reportedly asked to bring ¥13 million in cash to the meeting. Once the victim handed over the money to him in a paper bag, Kpoto allegedly pretended to count it under the table, replacing it with notepads resembling bundles of banknotes. He then sealed the bag with adhesive tape to prevent the victim from noticing the swap.
The executive later had the supposed gold grains appraised, only to discover they were copper coated in gold paint. When he rushed back to the restaurant, Kpoto had already fled. The victim then discovered the paper bag in his possession contained only notepads.
Authorities say Kpoto left Japan the day after the incident but was apprehended at Haneda Airport when he reentered the country at the airport on Wednesday.
Police are currently tracking another foreign national who was reportedly present during the transaction in October last year.